2:5 Stock Split: FMCG Varun Beverages Declares Record Date, Shares Set To Get Affordable

Large cap FMCG company Varun Beverages Ltd shares today witnessed rally of over 1% on BSE. Current market price of Varun Beverages Ltd shares on BSE is Rs 1516.05 per share. Varun Beverages shares offered 66% return in last 1-year and declined over 4% in last 1-week. The company's market capitalisation stood at Rs 1,97,223.78 crore. Today, the large cap FMCG company fixed September 12, 2024 as the record date for stock split in the proportion of 2:5. The company also recommended an interim dividend of Rs 1.25 per equity share and fixed August 9, 2024 as the record date. Check details below:

Varun Beverages Sets Record Date For Stock Split: As per the BSE filing of Varun Beverages dated September 2, 2024, "the Board of Directors fixed Thursday, September 12, 2024 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of sub-division / split of existing Equity Shares of the Company, such that each Equity Share having face value of Rs. 5/- (Rupees Five only) each fully paid-up, be subdivided/split into such number of Equity Shares having face value of Rs. 2/- (Rupees Two only) each fully paid-up, as approved by the Equity Shareholders through Postal Ballot on August 30, 2024."

Board of Varun Beverages on July 30, 2024 considered and recommended sub-division/split of existing equity shares of the Company from 1 (one) equity share having face value of Rs. 5 each, fully paid-up, into such number of equity shares having face value of Rs. 2 each fully paid-up.

Varun Beverages Dividend: the Board of Director's approved an interim dividend @ 25% of face value i.e. Rs. 1.25 per share. Total cash outflow would be ~Rs. 1,624.30 million on July 30.

Varun Beverages Q2 Results: It declared revenue from operations soared 28.3% Year-On-Year (YoY) to Rs 7196.86 crore in Q2 as against Rs 5,611.40 crore announced in the corresponding quarter of last year. Ravi Jaipuria, Chairman, Varun Beverages Limited said, "We are pleased to report robust performance for the second quarter of CY2024, achieving a consolidated sales volume growth of 28.1%, which includes volumes from BevCo. The impressive volume growth of 22.9% in India primarily contributed to this outstanding performance, supported by our expanded capacities, enhanced distribution network, and a strong summer season. Meanwhile, our international markets remained relatively flat, moreover it was a seasonally weak quarter for African market."

According to the BSE filing, "Consolidated sales volume grew by 28.1% to 40.16 crore cases in Q2 CY2024 from 31.35 crore cases in Q2 CY2023. This includes ~28 million cases from BevCo during the quarter. India volumes grew by 22.9% while International volumes (before BevCo volumes) was almost flat primarily on account of volumes in Zimbabwe getting affected due to portfolio transition to zero sugar without affecting profits."

Varun Beverages Shares Performance & Return: The 52-week high price of Varun Beverages shares on BSE is Rs 1707.10 per share (as on 29/07/2024) and 52-week low price is Rs 828.20 per share (as on 26/10/2023), respectively. Varun Beverages has a market capitalisation of Rs 73,302.14 crore. Varun Beverages shares slipped 3.27% in last 1-week, gained 23% year-to-date, offered return of 195% in last 2-years, and surged 418% in last 3-years. In last 5-years, Varun Beverages shares zoomed 968%.

About: Varun Beverages Limited ("VBL" or the "Company") is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA). The Company manufactures, distributes and sells a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo, according to its LinkedIn page.